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Corporate responsibility and financial performance: the role of intangible resources

Year: 2009

Type: article

Abstract: This paper examines the effects of a firm's intangible resources in mediating the relationship between corporate responsibility and financial performance. We hypothesize that previous empirical findings of a positive relationship between social and financial performance may be spurious because the researchers failed to account for the mediating effects of intangible resources. Our results indicate that there is no direct relationship between corporate responsibility and financial performance—merely an indirect relationship that relies on the mediating effect of a firm's intangible resources. We demonstrate our theoretical contention with the use of a database comprising 599 companies from 28 countries. Copyright © 2009 John Wiley & Sons, Ltd.

Source: Strategic Management Journal

DOI: 10.1002/smj.820

Authors: Jordi Surroca, Josep A. Tribó, Sandra Waddock

Institutions: Universidad Carlos III de Madrid, Boston College

Language: English

Topic: Corporate Social Responsibility Reporting

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: bronze

Funders: Fundación Ramón Areces, Comunidad de Madrid

Awards: G214151060, G340644106, G7487539154